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Viettel unveils global expansion plans

Vietnamese state-owned operator Viettel has pitched an ambitious plan for growth to the country’s Prime Minister Nguyen Tan Dung.

Across the next 5 years, the military-run operator is aiming to enter 30 to 35 new countries and become one of the world’s 10 largest telecoms companies. The group’s executives are aiming for a 20% revenue increase and a 15% profit increase.

Last year, Viettel’s revenue rose by 20% to VND197 trillion ($9.38 billion), while its pre-tax profit was up by 15% to VND42 trillion. It currently employs around 75,000 people in Vietnam and a further 15,000 overseas, and has invested in nine countries across Asia and Africa.

Viettel is lining up an $800 million investment in Myanmar, having obtained spectrum in the market at auction last year. Myanmar currently has very low mobile penetration, sitting at around 11%.

Viettel leads Vietnam’s mobile market with a 45% share, and is the second-largest firm in the country.

 

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